LSW Annuity/403b
Terry,
I just discovered your book and have watched your videos. Thank you so much for making this information available. I’m learning so much and starting to question some of my financial decisions. I currently have a LSW Fixed Annuity and I do not feel that it is growing enough. I currently contribute $500 to this account monthly (pretax) and I am also maxing out a Roth IRA ($7000). I am 54 years old and a speech pathologist for the public schools. I will have a teacher retirement which i will be technically eligible for in 3 years if I choose to leave public schools to seek other career/job opportunities. Is the Fix Annuity the best option for my age, tax savings, or should or should I look into other products to help my money grow? I previously had my money with a financial advisor who never really communicated to me and I felt that my money was getting eaten up by fees.
In short, I have a little bit more money that i could be investing but I want to make the best decision for my fixed income.
I am so grateful for any direction, advice, or guidance you can give me.
Sincerely
Terry Says
Hmm — I’m thinking this annuity might not be the best place to continue to invest. But the one person who could look at and tell you whether you might roll it over into a better product is Stan-the-Annuity Man! Really!
Contact him by filling out the contact form at www.StantheAnnuityMan.com. And he will assess your situation. Mention in the form that I sent you. I don’t get anything out of this, but it might move you nearer to the top of his list!
You can trust him completely. I do. And he might have some other low-cost ideas for tax-deferred investments.
This might also be a good time to find a fee-only FIDUCIARY financial advisor — someone who is not trying to sell you anything. Read this article at my website about Wealthramp to find one.